SMM News: ECB policymakers have reiterated their willingness to increase monetary stimulus, but have also hinted that no agreement has yet been reached on when or how to act.
According to an interview broadcast on Monday, Benoit Coeure, a member of the ECB's executive committee, said easing was now needed "more than ever" and that interest rate cuts and quantitative easing were possible. Francois Villeroy de Galhau, president of the Bank of France, said the ECB was "determined" to act, but noted that the interpretation of the economy was inconsistent and hinted that there was no need to rush to a decision this month.
"We will hold several board meetings in the coming months," Villeroy told CNBC. "if necessary, there must be no doubt about our determination and ability to act if necessary. I repeat, if necessary, if necessary. "
"We have pilot expectations for monetary policy-forward guidance; our interest rates are very low, indicating that we are prepared to cut interest rates further if necessary-I tend to add'if necessary'; we reinvest in assets to participate in financial markets," Coeure said in an interview with BFM Business Radio at the weekend in Aix-en-Provence, France. "if this proves necessary, we can restart net asset purchases again."
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